According to a report from The Logic, The Royal Bank of Canada, the popular Banking giant RBC that has more than 16 million clients, will offer its clients to trade in crypto, as we are reading further in the altcoin news below.
The Banking giant RBC) wants to give the customers the chance to trade in crypto such as Bitcoin and Ethereum for investment goals, also the RBC wants to provide a platform for in-store and online crypto purchases, claims the media company. Allegedly RBC plans to offer customers cryptocurrency bank accounts, claims The Logic while stating that the Royal Bank of Canada did not respond to requests for comments about the proposed exchange launch.
The Royal Bank of Canada is exploring possible blockchain technology applications in the banking sector since 2017, also the RBC has four patents registered in the United States the patents are cryptocurrency banking-related. As we read in the reports:
“To individual users, managing cryptographic keys and transacting with different cryptographic assets can be a challenge. In some situations, cryptographic asset transactions may take time to be confirmed, and/or may not be compatible or supported by merchant systems or point-of-sale devices.”
The CEO of The Royal Bank of Canada (RBC) David McKay, said that the bank is willing to experiment with blockchain in the private equity sphere and he was quoted saying:
“Blockchain is an opportunity in the future to take assets that are less liquid and make them more liquid. I think that’s exciting.”
If the Royal Bank of Canada (RBC) makes the crypto exchange launch, it might at once become the most important domestic exchange in the crypto sector and also a huge international player. According to claims made by the RBC, the bank is one of the top 15 banks internationally based on market capitalization. The Royal Bank of Canada says that 23% of its revenues come from its operation in the United States, and 15% from elsewhere in the world, the other part of the revenue is from its Canadian operations.
The RBC says that it employs more than 86,000 staff members and has a client base of over 16 million.
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